Pledged assets and collateral

For a discussion of the Firm’s pledged assets and collateral, refer to Note 28 of JPMorgan Chase’s 2017 Annual Report.

Pledged assets

The Firm may pledge financial assets that it owns to maintain potential borrowing capacity with central banks and for other purposes, including to secure borrowings and public deposits, collateralize repurchase and other securities financing agreements, and cover customer short sales. Certain of these pledged assets may be sold or repledged or otherwise used by the secured parties and are parenthetically identified on the Consolidated balance sheets as assets pledged.

The following table presents the Firm’s pledged assets.



(in billions)	June 30, 2018		December 31, 2017
Assets that may be sold or repledged or otherwise used by secured parties	$	140.4	$	135.8
Assets that may not be sold or repledged or otherwise used by secured parties	76.7		68.1
Assets pledged at Federal Reserve banks and FHLBs	487.0		493.7
Total assets pledged	$	704.1	$	697.6

Total assets pledged do not include assets of consolidated VIEs; these assets are used to settle the liabilities of those entities. Refer to Note 13 for additional information on assets and liabilities of consolidated VIEs. For additional information on the Firm’s securities financing activities, refer to Note 10. For additional information on the Firm’s long-term debt, refer to Note 19 of JPMorgan Chase’s 2017 Annual Report.

Collateral

The Firm accepts financial assets as collateral that it is permitted to sell or repledge, deliver or otherwise use. This collateral is generally obtained under resale agreements, securities borrowing agreements, customer margin loans and derivative agreements. Collateral is generally used under repurchase agreements, securities lending agreements or to cover customer short sales and to collateralize deposits and derivative agreements.

The following table presents the fair value of collateral accepted.



(in billions)	June 30, 2018		December 31, 2017
Collateral permitted to be sold or repledged, delivered, or otherwise used	$	1,102.8	$	968.8
Collateral sold, repledged, delivered or otherwise used	908.2		771.0

Certain prior period amounts for both collateral and pledged assets (including the corresponding pledged assets parenthetical disclosure for trading assets and other assets on the Consolidated balance sheets) have been revised to conform with the current period presentation.